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15

New York Lenders Subpoenaed Over Seller-Financed Mortgage Alternatives

By Tony Seruga

Financial regulators in New York are scrutinizing a revival in seller-financed deals for marketing inexpensive homes to lower-income people who cannot get a mortgage.

The New York State Department of Financial Services on Friday subpoenaed four investment firms that either are involved with seller-financed deals or provide financing for such deals, said a person with direct knowledge of the matter but spoke on the condition of anonymity because the investigation is preliminary…

New York Lenders Subpoenaed Over Seller-Financed Mortgage Alternatives

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